MasTec (MTZ) Receives a Buy from B.Riley FBR


In a report released today, Alex Rygiel from B.Riley FBR reiterated a Buy rating on MasTec (MTZ), with a price target of $61. The company’s shares opened today at $46.91.

Rygiel commented:

“Last night (3/11), management of MastTec, Inc. (MTZ) hosted a sell-side analyst dinner meeting. In summary, we are incrementally more confident in our 2019 estimates and longer-term outlook. Management’s commentary overwhelmingly confirmed our bullish thesis on the shares which we believe are meaningfully undervalued. Our expectation for 10% revenue growth annually for the next two years appears conservative and our 10% EBITDA margins have meaningful upside over time. Strength across oil & gas (OG), communications, electrical transmission and power generation all offer unique growth potential that is driven both by macro trends and company specific initiatives. We reiterate our Buy rating and our price target of $61 (which could prove conservative).”

According to TipRanks.com, Rygiel is a 5-star analyst with an average return of 7.7% and a 58.8% success rate. Rygiel covers the Basic Materials sector, focusing on stocks such as Granite Construction Inc, Tutor Perini Corp, and Quanta Services.

Currently, the analyst consensus on MasTec is a Strong Buy with an average price target of $58.20, representing a 24.1% upside. In a report issued on March 4, Citigroup also maintained a Buy rating on the stock with a $60 price target.

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MasTec’s market cap is currently $3.55B and has a P/E ratio of 14.32. The company has a Price to Book ratio of 2.56.

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MasTec, Inc. engages in the provision of infrastructure construction services. It operates through the following segments: Communications; Oil and Gas; Electrical Transmissions; Power Generation and Industrial; and Other.

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